Category: real estate

What is Property Management Company

Are you stressed out because you do not have enough time to take care of all your property assets properly? If yes, then it’s high time that you consult a good property management company that will readily take responsibility of all the duties of maintaining and protecting your property and will make you feel relaxed. From documentation and paper work of leasing or renting agreement to reselling, every thing is executed with professional efficiency so that you do not have to worry about any loopholes during the process of any deal.

Salient features of a good property management company

In case certain disputes arise due to illegal claims on the property, your Property management company helps you in completing all the legal formalities and equips you to face the tribunal charges in a professional way.

Top Five Reasons to Buy Luxury Real Estate Now

There has never been a better time to consider investing in luxury real estate. As the market climbs back from a housing bubble busts and resets itself, those who wisely buy in now can reap the rewards later. And by later, that’s not too far off in the distant future. Learn about five leading reasons to consider getting on the luxury real estate bandwagon in this article.

Lowest Prices on Luxury Real Estate in Years

That old time term of it being a “buyer’s market” rings resoundingly true here when it comes to luxury real estate and making a smart purchase. On a national scale, luxury real estate is more affordably priced today than it nearly ever has been, and in the entire history of real estate. As homes move slowly to buyers, sellers become wary and eager to sell, which equates to reduced prices on even the finest of homes. This also conglomerates the market with reduced price luxury real estate, an enticing treat for a buyer that is seeking to walk into any purchase with a substantial amount of equity.

Larger Inventory to Choose From

The national inventory of luxury real estate and homes that is available today is impeccably vast and delectable. Unlike times past, these days the luxury real estate catalog is bursting at the seams due to market decline in recent years. For the buyer, this means several things. First, it means more options when shopping for luxury real estate. Secondly, it means better prices on luxury real estate. Lastly, it means that it’s easier to actually get into that dream home than you might think with so many options available.

Mortgage Rates are Historically Low

For those seeking to finance that luxury real estate purchase that they are intent on making – and most people will finance their home – they can take solace in knowing that they can enjoy getting a historically low interest rate on their home mortgage. Creditworthiness notwithstanding, the national average interest rate on home mortgages has never been as low as it is now. For qualified buyers, this means that they can enjoy a fabulously low interest rate that saves them uncanny amounts of cash over a 15 year term or greater.

Accruing Asset

The luxury real estate market – and the market as a whole on the national scale – is regaining its value. As the housing market bounces back slowly but surely, the appraisals and numbers will continue to rise. A home is one of the safest investments that a person can make. And considering that, historically, real estate has been an accruing asset form, it’s safe to say that your investment is rather safeguarded moving forwards, as the marketing regains the luster that it once had.

Property Investment

What is Lease Options?

If the seller wants to stop paying mortgage on property and move on without selling at below its full market value, this is another way of not fully giving up ownership, but leasing the property for a period of time, usually between 5 and 15 years or more depending on the agreement between both parties. A lease option gives the buyer an option of buying the property at an agreed amount at a future date. This is common when a property has little or no equity.

Selling a property through an estate agent in the current market can take several months. In some situation, the estate agents could ask the seller to reduce the price to create interest, but still, the property is not sold and the seller may be in dire need to move on, especially if the property is negative equity. However, selling to a cash buyer a property with zero equity requires a discount of about 25% and the seller may not be in the position to reduce the price.

Lease Options enables the seller, to grant the buyer an option to buy the property at close to the property’s full market value based on today’s market in the future. This enables the buyer to take over the mortgage payments, maintenance and upkeep. It gives the seller or property owner the freedom to move on in life without thinking of any mortgage payment.

A typical example of a lease option is thus – let’s assume a property is in the market for 100,000. There is an outstanding mortgage of 80,000, monthly mortgage of 500. In order to attract interest, the seller needs to reduce the property price to probably 80,000. In doing so, he will not make any profit at all from the sale and worst still, it could take between 6 to 18 months or more to sell. This means he will continue to pay the monthly mortgage.

With lease options, the seller could grant us an option to buy the property for 90,000 within the next 5 years or at an agreed period of time. During this time, the buyer will be responsible for the monthly mortgage payment, carry out maintenance and total upkeep of the property. If he (buyer) chose to exercise the option to buy the property at anytime within the option period, the seller will make 10,000 profit after paying off the mortgage of 80,000. Should the buyer chose not to exercise the option to buy at the end of the period for any reason, or the seller chose not to sell, the property would be returned to the seller in very good condition probably with improvements made to it. At this time, the seller has saved himself from the burden of paying mortgage, benefited from a long period of not even thinking about mortgage nightmare and the property had experienced significant capital growth.

These are some of the scenarios where lease options apply:

If the owner is facing mortgage arrears;

If the owner is facing repossession, especially on a property with zero equity;

If the owner want to move on quickly, burden of mortgage, council tax, maintenance;

If the owner do not need lump sum of cas0h to move immediately;

Lease Options is a free service and can be completed within 28 days in most cases.

For further information on how to sell your house fast, property related query or lease options, please contact

Chennai Sees a Gradual Growth in Residential Property Market

Chennai’s residential property market has witnessed a gradual growth in terms of valuation, demand and provide within the past 2 years post the economic recession. Town has generally been a base for the automobile/auto adjuvant business and is one in every of the premier port cities within the country.

With the appearance of the IT sector, Chennai’s residential realty market has become progressively hooked into its growth and expansion for continuing residential demand. The present state of affairs of job stability during this sector is at a far better position than it was during year 2008- 2010.

Despite the subdued economic conditions, developers have gone ahead with their plans and several other large scale residential property in Chennai are declared throughout FY 2012. The duration of witnessed the launch of roughly 14900 units that are scheduled to be completed within the next 2-3 years. This optimism shown by developers is also due to the very fact that the Chennai market is primarily self-sustained and not abundantly affected with the upheaval in world markets.

On the valuation front, nearly seventy four per cent of the total variety of residential units launched in FY 2012 fell inside the Rs Five million ticket size categories. Many distinguished developers strove to faucet the cheap housing section with their new launches. Another fourteen per cent of the residential property in Chennai were launched in FY 2012 belonged to the Rs 5.0-7.5 million ticket sizes, line of work to the wants of the higher mid-end section. On the opposite hand, simply nine percent of the full units launched in FY 2012 surpassed the ticket size of Rs Ten million to represent the premium section.

As of March 2012, nearly 82 thousand residential units are beneath varied stages of construction within the Chennai realty market. Whereas southern region can account for a major share of around fifty nine percent, west Chennai can contribute thirty three percent, followed by the northern region with five percent and central Chennai with three percent

An important trend witnessed is that the modification within the preference for unit size. The popular size for 3 BHK flats has accumulated from 1250 square foot to 1450 square foot whereas for 2BHKs from 900 square foot to 1150 square foot. The vacancy level as on March this year was recorded at just about thirty one percent with the southern part alone constituting thirty per cent whereas north and west metropolis have vacancy levels of thirty two percent and thirty three percent. Central Chennai contains a lower percentage of twenty two percent.

Chennai’s residential market has been quite resilient to the looming threat of world economic turmoil however the market witnessed a dip in sales speed in Q3 FY 2012, compared to the previous 2 quarters. It’s been envisaged that the corridor between Sholinganallur and Thiruporur within the southern belt will be next investment destination for residential property in chennai. One more choice is that the Sriperumbudur-Oragadam belt towards the west that is one of the most effective choices with huge manufacturing corporations and MNCs expanding their footprint there.